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What is mercantilism theory?

Mercantilism is an economic theory that focuses on the trading of goods as a means to create wealth. In order for a nation to create more wealth, it needs to export more goods than it imports — it needs to sell more than it buys. If it can achieve that, it creates a positive trade balance for the nation.

What did mercantilism do?

Mercantilism was a form of economic nationalism that sought to increase the prosperity and power of a nation through restrictive trade practices. Its goal was to increase the supply of a state's gold and silver with exports rather than to deplete it through imports. It also sought to support domestic employment.

How did mercantilism affect the world?

Amassing national wealth, in turn, depended on maintaining a favorable balance of trade, a situation in which a country exports goods of greater value than it imports. Mercantilism also assumed that the world’s wealth as measured in gold and silver was finite, so a gain for one nation was a loss for another.

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